Posted: August 12th, 2008

Agreement With Meruelo Maddux Comes Four Years After LAUSD Tried to Buy Taylor Yard Site for $27 Million

by Ryan Vaillancourt
DOWNTOWN LOS ANGELES

The Los Angeles Unified School District has agreed to pay $50 million to settle an eminent domain dispute with Meruelo Maddux Properties over a 23-acre Cypress Park site, Los Angeles Downtown News has learned.

The agreement involving the property known as Taylor Yard comes about four years after the district sought to buy the land for $27 million, only to be eclipsed by a higher offer from Meruelo Maddux.

Read the rest of this story at the Downtown News.